US Sell-Off Drives March Palm Oil to Parity with Soybean Oil

US Sell-Off Drives March Palm Oil to Parity with Soybean Oil

US Sell-Off Drives March Palm Oil to Parity with Soybean Oil

Vegetable oil futures moved in opposite directions on the first trading day of the year, with soybean oil values marginally lower while palm oil futures rallied sharply. A broad sell-off in the U.S. equity market triggered profit-taking in commodity markets during U.S. trading hours resulting in the weakness in soybean oil values. The profit-taking followed sharply higher overnight prices, which drove West Texas Intermediate (WTI) futures down to more than $1.15 per barrel lower for the day from overnight gains of more than $1.25 per barrel that pushed the benchmark contract close to the psychologically critical $50 per barrel level. While Asian markets settled substantially higher, the weakness in U.S. markets will likely weigh on Asian commodity markets during Tuesday’s trading.

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03.28.2024

LCFS credit volumes, average prices move higher

LCFS credit volumes, average prices move higher

**Please note – There will be no Biomass Based Diesel bulletin on March 29, 2024, in observance of Good Friday.**

**Bob Lane was out of the office today.**


California low carbon...

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Diverging FOB and delivered markets to close out March

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Please note – The Jacobsen will not publish an Animal Fats bulletin on Friday, March 29th in observance of the Good Friday holiday.

Trading was quiet ahead of...

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March monthly averages mixed for animal proteins

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** Please note: The Jacobsen will not publish a bulletin on Friday, April 29 in observance of Good Friday. **

Light trade was reported for the end of...

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